91st General Assembly
Summary of HB0263
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House Sponsors:

Short description: 
PROP TX-CAP ASSESSMENTS-5%                                                 

Synopsis of Bill as introduced:
        Amends the Property Tax Code.  Provides that beginning  with  the      
   1999  levy  year,  in making assessments under this Code, the assessor      
   shall not increase the assessed value of a tract or  lot  of  land  by      
   more  than  5%  over the assessed value of the tract or lot of land in      
   the previous year unless (i) the amount of the increase in value  that      
   exceeds  5%  is  due  to  new or added buildings, structures, or other      
   improvements of any kind whose value was not previously  added  to  or      
   included  in  the  valuation of the tract or lot or (ii) the amount of      
   the increase in value that exceeds 5% was established in the  sale  of      
   the property in an arms length transaction. Effective immediately.          
          HOUSING AFFORDABILITY NOTE (Housing Development Authority)           
          There is insufficient information to determine a fiscal effect       
          on the cost of constructing, purchasing, owning or selling a         
          single-family residence.                                             
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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